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The lamb trade has come under pressure on the back of a further recovery in supply and a decrease in price, according to Bord Bia.

It also says the trade across our key export markets remains slow on the back of continued weak demand.

Average lamb prices decreased in recent days with factories this week giving out base quotes for Spring lamb in the region of around €4.40/kg – €4.50/kg. Prices paid for cull ewes are making around €2.40/kg.

Figures from the Department of Agriculture show that supplies for the week ending August 1 stood at around 60,000 head, which is around 3,000 head or 5% higher than the corresponding week in 2013. Cumulative supplies are around 2% higher than 2013 figures standing at around 1.4 million head.

In Britain, Bord Bia says the trade was reported as showing a downward trajectory. The SQQ live price for new season lambs in England and Wales was making the equivalent of around €4.77/kg dw towards the end of the week.

In France, it says demand continues to remain slow on the back of bad weather and holiday season which sees many restaurants close in August. The Irish Grade 1 spring lamb price was making around €5.04/kg (inclusive of VAT) during the week.